Originally published on barandrestaurant.com | Click here to see the article
Did you know that knowing your customers is the key to unlocking the secret sauce of success for your restaurant? Understanding your customers and segmenting them appropriately can be the difference between serving up cold beers or mouth-watering burgers that keep your customers coming back for more or getting lost in the shuffle.
Think about it—your bar or restaurant customers aren’t just numbers on a balance sheet or faces in a crowd. They’re real people with real needs and wants, and by taking the time to get to know them, you can create personalized experiences that make them feel seen and heard. This, in turn, can lead to increased loyalty, higher sales, and a reputation as the coolest restaurant around.
But don’t just take my word for it. Think about your favorite brands – the ones that make you feel like you’re part of a community, not just a consumer. They probably go out of their way to create experiences that resonate with you, whether it’s through tailored marketing campaigns or personalized promotions. And the best part? They do it all with a fun, casual tone that makes you feel like you’re hanging out with a friend, not just buying a product. So why not take a page from their playbook and infuse your business with a little personality while also making your customers feel like they’re part of something special, not just another sale.
Luckily, digital advancements and new technology allow restaurants and bars to know and understand their customers better than ever. And it starts with segmentation.
Achieving Segmentation Through Technology
By segmenting your customer base, you can create personalized experiences that make customers feel like the VIPs they truly are. According to a recent survey, a whopping 31% of consumers wish their buying experience was more personalized than it currently is. And here’s the kicker – 80% of respondents said they’re more likely to do business with a company if it offers personalized experiences. That’s right, personalization is the key to winning over your customers’ hearts (and wallets).
The numbers speak for themselves. Companies that offer personalized experiences see a significant boost in sales and brand loyalty, according to Epsilon. And 88% of U.S. marketers reported seeing measurable improvements due to personalization, with more than half reporting a boost greater than 10%.
So, how can you take advantage of customer segmentation and personalized marketing? This is where technology comes in. Let’s take the example of a restaurant that uses integrated WiFi marketing. By tracking customer orders and preferences, your restaurant or bar can identify its regular customers and send them targeted texts about weekend specials and deals. And who knows, maybe they’ll even entice them to come back for lunch on a random Tuesday with their friends. This kind of personalized marketing makes the customer experience feel tailored to the individual.
Digital Transformation Paves the Way for Personalization
If you’re ready to take your business to the next level with personalization, then look no further than integrated WiFi marketing. It’s the way of the future for businesses that want to stay ahead of the curve.
Digital transformations have gone from a trend to a necessity, and restaurants that want to survive in 2023 need to embrace new technology and processes that can improve business performance and customer experience. And get this – companies that have already undergone a digital transformation are 26% more profitable than their peers. It’s no wonder 52% of marketers around the world are focusing on driving growth through technology.
But it’s not just the marketers who are on board with the digital revolution. C-suite and senior-level management are also seeing the benefits of embracing new technology. 56% of CEOs report that digital improvements have led to increased revenue, while 60% of executives believe that connected technology and internet connectivity will play an important role in their company’s digital strategy.
And here’s why integrated WiFi marketing is leading the way. It’s a cutting-edge development that allows restaurants and bars to vastly improve customer experiences, collect vital guest data and information, and stimulate organic customer engagement. By offering free WiFi to customers and tracking their usage, restaurants can gain insights into their behavior and preferences and use that data to create personalized marketing campaigns and experiences that keep them coming back.
Meet Customers Where They’re At For the Best Results
Did you know that your customers are more plugged in than ever before? 82% of people check their phones in an establishment before shopping or ordering. So why not meet them where they’re at and deliver personalized messaging via WiFi marketing while they’re physically at your establishment?
Your customers are more than happy to receive email or text promotions while using your on-site WiFi. In fact, a recent survey found that 74% of guests were comfortable with this kind of marketing. Imagine this – you’re at a bar that uses WiFi marketing, and suddenly you receive a text message with a loyalty members-only promotion for a free appetizer with your cocktail. The customer is receiving that promotion at the right place and the right time to make a purchase.
But it’s not just about delivering promotions – it’s about building relationships with your customers. The CMO Council found that 56% of social media users are willing to log in with their profiles in exchange for a customer brand experience. And integrated WiFi marketing can help foster natural and mutually beneficial dynamics between restaurants and bars and their guests that help make customers make the decisions that are best for them.
Failure to Know Customers Leads to No Customers
Those who have dedicated time and effort toward segmentation and understanding what their customers want have seen success. However, there are repercussions for companies that do not dedicate the time and effort toward understanding their customer base and catering to their wants and needs. According to a report by Rakuten Marketing, marketers who don’t take the time to do so can expect to waste 26% of their marketing budget on the wrong channels or strategies. That’s a lot of wasted resources.
And it’s not just about avoiding the loss of resources – it’s about avoiding failure altogether. Out of over 30,000 new products and services launched each year, a staggering 95% of them fail, according to Harvard Business Review. The largest reason for this failure is a failure to understand customer wants and needs, closely followed by targeting the wrong marketing. The result is a huge missed opportunity.
But here’s the good news – providing a personalized customer experience is a surefire way to boost revenue. Brands offering a superior customer experience bring in 5.7 times more revenue than competitors who lag in providing tailored experiences.
Originally published in Bar And Restaurant magazine
by Stephen Gould, CogoBuzz CEO/Founder